1. Act in your portfolio company’s best interests As investors, we often come across companies whose products or services we would personally use. We get excited at the thought of obtaining them for free or at discounted prices if we choose to invest in the company. From requesting free lifetime subscriptions to skipping waitlists to get the latest products, I’ve seen investors request for anything and everything under the sun — and even to go as far as to include it in contracts. My take on this is simple: company and customers come first before investors. I have also noticed that some investors lobby for advisory shares before they are willing to become board members or investors in the company. Entrepreneurs, beware. The investment community frowns upon creating separate classes of investors where some benefit more than the rest do. Your best supporters are the ones who share your vision, and not just because they are getting special treatment on the side. It needs to be in fair balance. 2. Be prompt, clear and consistent in your communications  A constant complaint that entrepreneurs have is that VCs never get back to them. With the exception of rare events, the VC is to be blamed in most cases. I admit, I have been guilty of this at times. Therefore, I’ve implemented a 48-hour rule for myself: get back to everyone within that time frame, even if their project is not in line with our company needs. Of course, I expect the same of entrepreneurs in return. Many entrepreneurs I have met are lifelong optimists. That’s why they have the boldness to pursue their dreams. But this sometimes translates to seeing a positive twist in every conversation, including funding conversations with VCs. "Maybes" become "yeses". “Let’s check in after three months” becomes “my wire will show up in three months.” What we can all benefit from is precise, clear language that does not leave room for interpretation. VCs – including myself – must be more aware of our communications and make sure our positions are crystal clear.   3. It doesn’t hurt to be nice  As a young investor, I have noticed a couple things about some in the industry: we condescend. We don’t extend entrepreneurs or companies the basic courtesy of showing up on time for meetings. We don’t listen to what they have to say. I know some VCs think being nice is a sign of weakness, but that is simply untrue. More often than not, entrepreneurs defer to us because of the money behind us, not who we are. Entrepreneurs deserve thanks in advance.  We, as the VCs, are not the real innovators or risk-takers. They are. We benefit when they succeed. That is not to say I agree with Andy Dunn’s comment that almost all VCs have no value to add. More egregious, however, is how VCs turn a blind eye to each other sometimes. I’m probably biased as a young investor, but I’m disturbed by how newer or more junior investors have been treated with little respect. When I first came to LA, I noticed how some refuse a mere 30 minutes of their time to help a junior investor get started. Every dog has its day, and the investment community would get only better if everyone makes to effort to support others. That being said: a big thank you, David Cremin at DFJ Frontier, Peter Lee at Baroda Ventures, and Eric Manlunas at Siemer Ventures. I appreciate you welcoming me, introducing me to your network and deal flow, and encouraging me through this process.   4. Build your network so you can actually be helpful  You’ve heard it a million times: the job of a VC is all about networking. It’s true. In fact, I underestimated just how true it is. During my first few meetings with some of my portfolio companies, we were discussing strategic relationships they needed and I was bothered by the fact that I could only bring a few connections to the table. The thing about being a smaller, early-stage fund is that you need to hand over your portfolio companies to the bigger guys at some point in time. Without these relationships, it’s hard for later-stage funds to get comfortable with you and your company as an investor. Now, whenever I’m up in Silicon Valley, I act the part of an external salesperson, getting later-stage investors up to speed on what my portfolio companies are working on. I spend much of my time making friends and building relationships with people who could be helpful in the future. I even accumulate favors that could be cashed in later. The lesson here is that the best VCs are the ones who can line up your next round of investors even before you’re actively raising money.   Conclusion  This is not a comprehensive list of qualities that make a great VC, but hopefully others can learn from my experience and become better members of the ecosystem. In return, I request that everyone keep me honest in my pursuit to becoming a better VC. Remember: Be nice. Act in the interest of your company, not yourself. Communicate precisely. And make friends.   -TX